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USD/CAD extends downside reversal to below 1.4300

The recovery in the Canadian dollar, which continued yesterday has delivered further downside for the USD/CAD right now. The USD/CAD just tested the 1.4300 handle. The US dollar had closed in the US last night at 1.4323. In fact, the pair just traded below 1.4300 a moment ago and that means it is now nearly 500 pips below the high seen at one point on Monday (1.4793). That is one heck of a reversal folks and the question about that move defining what is known in the trade as a Blow Off move was highlighted here yesterday. well, as you can see, the price action since that update has done little to contradict that prospect. The USD/CAD is right now at 1.4297
 

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